Morgan Stanley Maintains Underweight on Bank of New York Mellon, Raises Price Target to $48
Portfolio Pulse from Benzinga Newsdesk
Morgan Stanley analyst Betsy Graseck has maintained an Underweight rating on Bank of New York Mellon (NYSE:BK) but increased the price target from $46 to $48.
December 01, 2023 | 1:46 pm
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NEUTRAL IMPACT
Morgan Stanley maintains an Underweight rating on Bank of New York Mellon but raises the price target from $46 to $48.
While the Underweight rating suggests that Morgan Stanley's outlook on BK is not bullish, the increase in the price target from $46 to $48 indicates a slightly more positive assessment of the bank's value. This mixed signal could lead to a neutral short-term impact on the stock price, as the market digests both the continued caution and the increased target.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100